1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:

PROPOSED AMENDMENT

    Amend Article VIII, Section II, by the addition of a new paragraph 5 to read as follows:

    5. There shall be credited annually to a special account in the General Fund an amount equivalent to 6% of the revenue annually derived from the tax imposed pursuant to the "Corporation Business Tax Act (1945)," P.L.1945, c.162 (C.54:10A-1 et seq.), as amended and supplemented, or any other State law of similar effect.

     Of the amount annually credited pursuant to this paragraph, 80% shall be appropriated from time to time by the Legislature only for the following purposes: paying or financing the costs to be incurred by the State for the remediation of discharges of hazardous substances, which costs shall include the cost of investigating and delineating the discharge, comparing, designing, and implementing remedial actions, and performing necessary maintenance activities relating to remedial actions; paying or financing the cost of providing alternative sources of public or private water supplies, when a water supply has been contaminated by a hazardous substance discharge; and providing funding, including the provision of loans or grants, for the upgrade, replacement, or closure of underground storage tanks that store or were used to store hazardous substances, and for the costs of remediating any discharge therefrom.

     Of the amount annually credited pursuant to this paragraph, 15% shall be appropriated from time to time by the Legislature only for paying or financing the cost of water quality point and non-point source pollution monitoring, water quality modeling and assessment, and for the establishment or enhancement of environmentally based geographical information systems.

     Of the amount annually credited pursuant to this paragraph, 5% shall be appropriated from time to time by the Legislature only for paying or financing the cost of river and stream corridor preservation and restoration projects, watershed based water resource planning and management, environmental monitoring, health studies relating to environmental exposures, community oversight of remedial actions, and pollution prevention techniques and alternative or innovative remedial action technology research.

    It shall not be competent for the Legislature, under any pretense whatever, to borrow, appropriate or use the amount credited to the special account pursuant to this paragraph, or any portion thereof, for any purpose other than those enumerated in this paragraph.

    2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.

    3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:

    There shall be printed on each official ballot to be used at the general election, the following:

    a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question, as follows:

    If you favor the proposition printed below make a cross (X), plus (+) or check (•) in the square opposite the word 'Yes.' If you are opposed thereto make a cross (X), plus (+) or check (•) in the square opposite the word 'No.'

    b. In every municipality the following question:

STATEMENT

    This constitutional amendment, the "Pollution Cleanup Act," would dedicate 6% of the annual revenues from the Corporation Business Tax for certain costs involved with hazardous discharge remediations, underground storage tank improvements, and surface water quality modeling, monitoring, assessment, and information systems.

    It is estimated that at current collection levels, this bill would dedicate approximately $60 million each year for the above purposes. Of this amount, 80% would be dedicated for the State costs involved in hazardous discharge remediation and for financing and providing loans and grants for hazardous substance underground storage tank upgrades, replacements, or closures, and for cleanups of discharges therefrom. Fifteen percent of the money would be dedicated to financing the costs of surface water quality modeling, monitoring, and assessment as well as the establishment and enhancement of environmentally related geographical information systems. The remainder of the funds would be dedicated to several programs designed to enhance the protection of human health and the environment.

Amends Constitution to dedicate 6% of Corporation Business Tax revenue to fund hazardous discharge cleanup, underground storage tank improvements, and surface water quality projects.